For a few months La Vista was turning dirt, blocking streets, and looked like a real development. Then…nothing. Radio silence. In early 2008 rumors began to trickle through the real estate community that prices for these condos would average $500psf. Some would consider that hubristic price for a location that has been overlooked for years. Located at 18th & Lavaca, this project sits between three major economic zones – Downtown Austin, the Capitol, and UT. This location, historically underutilized, could be the perfect fit for lawyers, lobbyists, and [tenured] professors.
I imagine the terms on this deal are pretty favorable for the new investors. This is great news for Downtown and UT. If, in fact, La Vista on Lavaca reaches completion, it has the opportunity to revitalize the area surrounding it. Fingers crossed.
more about this story can be found at the Austin Business Journal